March 30th, 2023
Financial Counselor, Melissa will teach you simple ways to stay ahead financially and how to successfully play the money game.
Building relationships, cultivating financial wellness, and empowering people to focus on what matters, that's Kalsee!
#1 Fraud
Check out Melissa's latest tips on Fraud! Don't let scammers get the best of you.
Did you know?
They're projecting over $3 Billion in fraud this year in the U.S.
Be suspicious of:
- Phone calls asking for information
- Sellers asking you to purchase gift cards as payment
- Fraudsters pose as tech support to get information from you
- Romance schemes are growing. Be careful on dating platforms
- Lotto winnings are becoming popular
Stop and think. Don't get caught up in emotion.
#2 Taxes
It's tax season! Don't miss out on these tips for saving, budgeting ahead of time and slaying your taxes.
Take note:
- Deadline for Taxes is April 18,2022
- Stay ahead of the game and you'll likely get your refund sooner.
- Don't budget in your tax returns as income, let your return be considered extra funds and you'll be ahead financially.
- Visit Michigan.gov helping hand to check out more resources!
#3 Inflation
Inflation- we can't stop it, but we can plan around it. Learn what you can expect.
Some stats and tips:
- There are approximately 10 billion job openings in the U.S.
- 7.4 million people are unemployed.
- The first question to ask yourself is, are you seeking out a job to create income?
- Don't base your budget on any unplanned income (tax refund, insurance reimbursement...etc.).
- Round up your budgeting.
- Save, save, save. Even the smallest amounts add up. Monitor your little spending (coffee, lunch, hot lunch programs... etc.).
#4 Budgeting
Learn budgeting basics. Know where your money is going.
Budgeting tips:
- Look at EVERY. SINGLE. EXPENSE. You don't always realize how much cash is flowing out.
- Keep a pad of paper in your car, and keep track of your spending that way.
- OR take out cash to match your budget, and only use your debit card for allotted items.
- Explore budgeting options and find what works for you.
- Establish an emergency fund.
- Create saving accounts for different life events (wedding, college, new house) after your emergency fund is established.
#5 Fraud, Part 2
Scammers are constantly finding new ways to steal your information.
Fraud:
- If a request feels urgent or rushed, consider that a red flag.
- Keep your personal information personal.
- You can freeze your credit if you ever suspect your information is compromised.
#6 Financial Impacts of COVID & Inflation
Two years later, we still feel financial effects of COVID, not to mention, inflation is rising. How do we prepare?
COVID & Inflation:
- One of the best ways to prepare is by creating a budget.
- Separate savings accounts are a great way to keep your money organized.
- Be on the lookout for hardship programs to help assist you during this time.
#7 Sports Betting and Gambling
Sports betting and gambling is real, and it can be addicting. But that doesn't mean you can't find a balance.
Sports Betting and Gambling:
- Take cash. A great way to make sure you don't over spend, is taking cash and no cards. When you're out, you're out.
- Budget in money to use for gambling. Be in control of your money, don't let your money control you.
- Need more help? Contact 1-800-270-7117 to speak with someone.
More to Explore
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